The housing market in Illinois State is quite strong, with the median value of a house being $241,700. The median value of a house in the United States is $338,100, showing that Illinois State is still considerably lower than the national average. The US House Appreciation has seen an increase of 8.27% over the past year while House Appreciation in Illinois State has only seen an increase of 6.88%, slightly lower than the national average. Despite having slower growth than some other states, Illinois appears to be maintaining its relative affordability when it comes to housing prices.
The median home cost in Illinois is $241,700. Home appreciation the last 10 years has been 53.1%. Home Appreciation in Illinois is up 13.1%.
Average Age of Homes
- The median age of Illinois real estate is 49 years old
The Rental Market in Illinois
- Renters make up 29.9% of the Illinois population
- 2.0% of houses and apartments in Illinois, are available to rent
DID YOU KNOW
Buying a home is the biggest single purchase most people make during their lives. The second largest is most often an automobile.